Bill 120084
Authorizing the Commissioner of Public Property to enter into a sublease agreement with the Philadelphia Authority for Industrial Development, for certain land and improvements located at 300 E. Hunting Park Avenue, all under certain terms and conditions.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“The Committee of Public Property and Public Works, to which was referred Bill No. 120084, entitled "An ordinance authorizing the Commissioner of Public Property to enter into a sublease agreement with the Philadelphia Authority for Industrial Development for certain land and improvements located at 300 East Hunting Park Avenue"; and Bill No. 120140, entitled "An ordinance authorizing the Commissioner of Public Proper…”
Chief Clerk · Stated Meeting, March 15, 2012 · Mar 15, 2012 · official transcript, this passage
Status timeline
- Feb 9, 2012Introduced and Referred · CITY COUNCIL
- Mar 14, 2012HEARING NOTICES SENT · Committee on Public Property and Public Works
- Mar 14, 2012HEARING HELD · Committee on Public Property and Public Works
- Mar 14, 2012REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Public Property and Public Works
- Mar 15, 2012ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Mar 15, 2012SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Mar 15, 2012ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
- Mar 22, 2012READ AND PASSED · CITY COUNCIL
- Mar 30, 2012SIGNED · MAYOR
Official documents
Documents open on the City of Philadelphia’s legislative site.
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..Title Authorizing the Commissioner of Public Property to enter into a sublease agreement with the Philadelphia Authority for Industrial Development, for certain land and improvements located at 300 E. Hunting Park Avenue, all under certain terms and conditions. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. The Commissioner of Public Property is hereby authorized to enter into a sublease agreement for certain land and improvements located at 300 E. Hunting Park Avenue ("Premises"), with the Philadelphia Authority for Industrial Development ("PAID"), wherein PAID shall sublease the premises to the City, pursuant to terms substantially similar to those set forth in the document attached hereto as Exhibit "A". SECTION 2. The City Solicitor is hereby authorized to review and to approve the lease and other documents necessary to effectuate this Ordinance, which lease and documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interests of the City of Philadelphia and to carry out the purpose of this Ordinance. EXHIBIT "A" Terms of proposed Sublease Agreement between the Philadelphia Authority for Industrial Development and the City of Philadelphia for certain land and improvements located at 300 E. Hunting Park Avenue. 1. Exhibit "A" Definitions: "PAID" means the Philadelphia Authority for Industrial Development "City" means the City of Philadelphia "Landlord" means ISCP Development L.L.C. "Premises" means the land and improvements at 300 E. Hunting Park Avenue. 2. Basic Structure of Sublease Transaction: i) ISCP Development L.L.C. will lease the Premises to PAID. ii) PAID will sublease the Premises to the City. 3. Sublease Terms: i) Premises: Approximately 40,000 Rentable Square Feet on one floor building. Premises includes over 140 car parking on site. The building entrance will be off of E. Hunting Park Avenue. ii) Occupancy: The building will be occupied by the Department of Human Services and the Police Department Special Victims Unit. iii) Base Rental Rate: $17 per square foot with a .50 cent per square foot annual increase. iv) Duration: The term of lease and sublease agreements shall be at least fifteen (15) years. ..End